Some of the well-known VC firms that have invested in Jungle are Bitkraft Ventures, Framework Ventures, and Delphi Digital. Other metaverse news related to games.
The Web3 gaming business is still interesting to investors. Jungle, a company based in Brazil, said today that Bitkraft Ventures and Framework Ventures gave it $6 million in seed money. With the money, a Web3 mobile gun will be made.
Also involved in the round were Delphi Digital, 32bit Ventures, Karatage, and Stateless Ventures. The money will be used to build and grow the team working on Jungle’s first game, which is coming out soon.
In contrast to desktop and console games, which can take years to perfect and release, the process of making a smartphone game is pretty quick. And instead of making its own story and characters, Jungle plans to purchase them from other game companies and turn them into Web3 mobile games.
“Our strategy is to identify mobile games, either already live or in the process of being launched, which have the potential to be successfully converted to Web3-first titles and become dominant titles within their genre in the blockchain gaming space,” Jungle co-founder and CEO Joao Beraldo told Decrypt.
“We’re looking for the blue spots in a soon-to-be red ocean,” Beraldo added. “We want to avoid the current clusters of competition and forward position ourselves in the genres where we can win.”
Jungle’s first game, a mobile shooter, doesn’t have a name yet, but players will be able to trade in-game things for NFTs. “”opt-in by default open market economy” will also be part of the game, according to a release.
The Jungle team thinks that mobile is the best platform for Web3 games because it has the most users overall. According to Beraldo, this makes it “the only one that has the potential to bring a mass audience to Web3.”
“We’re ‘inch wide, mile deep’ focused in the interactive entertainment segment,” Pereira said, adding that Bitkraft’s prior experience investing in the Web2 gaming world also informs its decisions. “We think ultimately that experience gives us an edge in what we’re focused on with Web3.”
Content Source: decrypt.com
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